IndiGo’s Q4 net profit marginally up

Mumbai, April 29 (IANS) Budget passenger carrier IndiGo on Friday reported a marginal rise in its net profit for the fourth quarter of 2015-16.

According to InterGlobe Aviation the mother company of IndiGo, the net profit during the quarter under review inched up by 0.3 percent to Rs.579.31 crore from Rs.577.33 crore in the like period of 2014-15.

The low cost carrier’s (LCC) total income from operations during Q4 rose by seven percent to Rs.4,090.67 crore from Rs.3,823.26 crore reported in the corresponding quarter of 2014-15.

IndiGo flew 24.3 percent more passenger during the quarter under review. It ferried 0.89 crore passenger from 0.71 crore ferried in the like period of 2014-15.

For the full financial year 2015-16, IndiGo reported an increase of 52.6 percent in its net profit.

The net profit stood at Rs.1,989.72 crore for the year ended March 31, 2016.

The company’s total income from operations in the period under review grew by 15.9 percent to Rs.16,139.90 crore from Rs.13,925.33 crore in 2014-15.

The LCC ferried 31.5 percent more passenger during 2015-16. The airline flew 3.31 crore passenger in the period under review from 2.51 crore ferried during 2014-15.

The company’s board recommended a final dividend of Rs.15 per share (face value of Rs.10 per share) for the financial year ended March 31, 2016, subject to the approval of shareholders in the upcoming Annual General Meeting (AGM).

“In the quarter ended March 2016, IndiGo has announced a final dividend of Rs.15 per share. Including the interim dividend issued prior to the IPO,” the company said in a statement.

“IndiGo has distributed Rs.42.83 per share for the fiscal year 2016 based on the shares outstanding at the year end.”

The company’s president and whole-time director Aditya Ghosh said that the company has started receiving A320neo aircraft.

“The A320neo powered by Pratt and Whitney’s fuel efficient geared turbo fan engines will enable us to structurally reduce our costs as fuel continues to be the single largest element of our cost structure,” Ghosh said.